The Talbots Inc. (NYSE: TLB) announced that it will host a conference call today to further review the Company’s financing arrangements discussed in its April 15, 2008 Form 8-K and related press release issued April 16, 2008. In addition, the Company reconfirmed its previously announced outlook for fiscal 2008 as follows:

Reconfirms Fiscal 2008 Outlook

The Talbots, Inc. is planning for top-line growth of approximately 3%. This plan is based on slightly negative total Company comparable store sales.

Fiscal 2008 earnings from continuing operations are expected to be in the range of $0.47 to $0.52 per diluted share. The Company is planning for a loss from discontinued operations in the range of ($0.64) to ($0.59) per share, for a total loss per share in the range of ($0.17) to ($0.07), compared to the ($3.56) loss per share reported in fiscal 2007.

The Company believes that if it achieves this plan, it will have sufficient liquidity to fund the continued turnaround of its business. The Talbots, Inc. has revised its payment terms with its major vendors, resulting in enhanced financial flexibility and increased operating cash flow. In addition, the Company currently has working capital lines of credit totaling $165 million and believes that these lines will be adequate to fund its fiscal 2008 working capital requirements under its current plan.

Conference Call Dial-in Information

The call will take place today, April 18, at 9:00 a.m. (Eastern Time). In order to participate in the conference call, please dial 866-336-2423 approximately 10 minutes prior to the scheduled time and give the passcode "TLB".

If you are unable to participate in the conference call, you may listen to a replay of the call by dialing 800-642-1687 passcode 44416870. Please note the replay will be made available from approximately one hour after the conclusion of the call until 11:59 p.m. Eastern Time on April 20, 2008. This call will also be simultaneously broadcast live over the Internet at www.thetalbotsinc.com/ir/ir.asp and will be archived on the Company's website for a period of 12 months.

The Talbots, Inc. is a leading international specialty retailer and direct marketer of women's apparel, shoes and accessories. The Company currently operates a total of 1,422 stores in 47 states, the District of Columbia, Canada and the U.K., with 1,149 stores under the Talbots brand name and 273 stores under the J. Jill brand name. Both brands target the age 35 plus customer population. Talbots brand on-line shopping site is located at www.talbots.com and the J. Jill brand on-line shopping site is located at www.jjill.com.